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objects are checked for expiration once per day. The start time for processing is configured by "rgw lifecycle work time", and defaults to midnight.

For the record, if you are just testing, we introduced a debug harness (used in Teuthology) that will make each "day" pass in a configurable number of seconds. This should not be used in any production setup, since the overhead can be quite high, but it can be used to avoid waiting a whole day when testing the feature. The configurable is "rgw lc debug interval"